Reports that West Ham director Daniel Kretinsky wants to sell his Hammers shares began to emerge yesterday and, at face value, do seem slightly concerning.
As Martin wrote last night, it is being speculated that the Czech billionaire has grown frustrated with Hammers chairman David Sullivan and is now looking to offload his 27% stake in the club.
Speculation surrounding the reports is somewhat sketchy, with some suggesting Kretinsky is frustrated at not being able to take full control of the football club. However, other reports suggest his main gripe is a lack of influence, as he is essentially powerless to make decisions.
Either way, selling his shares will not be easy, with the Gold family having tried—and failed—to sell half of their 25% shareholding for more than a year.
Hammers chief executive Karren Brady even made a trip to the Middle East at the beginning of last season in an effort to drum up new investment in West Ham, but returned empty-handed.
The truth of the matter is that there are unlikely to be many takers willing to part with £200 million for a non-controlling interest in a football club.
It does, of course, leave the option for Sullivan to increase his shareholding—but surely, if he’d wanted to do that, he would’ve purchased the Gold shares by now.
I suspect this is a story that will run and run.
